 Everest Global Plc Acquisition of Precious Link (UK) Limited
18/12/2023 7:01am
UK Regulatory (RNS & others)
TIDMEVST
18 December
2023
Everest Global plc
("Everest" or the "Company")
Acquisition of Precious Link (UK) Limited, a UK wine retailer
Following the announcement on 4 July 2023, whereby the Company entered into an
agreement to provide a loan of £200,000 to Precious Link (UK) Limited ("Precious
Link"), Everest is today pleased to announce that it has entered into a share
purchase agreement ("SPA") with PI Distribution Investment Ltd, to acquire the
entire issued share capital of Precious Link.
Under the terms of the SPA, PI Distribution Investment Limited, a company
incorporated and registered in the British Virgin Islands, has agreed to sell
its wholly owned subsidiary, Precious Link, to Everest for a consideration of
12,500,000 new ordinary shares of £0.02 each in the issued share capital of
Everest ("Ordinary Shares") at a value of 4 pence per Ordinary Share (being a
premium of 23.08 per cent. compared to the closing middle market price of 3.25
pence per Ordinary Share on 15 December 2023), valuing the transaction at
£500,000.
Precious Link, a wine retailer incorporated and registered in England and Wales,
consists of 2 retail liquor outlets in the Southeast of England. For the year
ended 30 September 2022, Precious Link made a loss before tax of £35,057 on
turnover of £692,985. For the same period net liabilities amounted to £533,631.
The £200,000 loan between Precious Link and the Company will remain in force and
the director of Precious Link will assign his loan of circa £0.5m, due to him
from Precious Link, to the Company, as a condition of the SPA.
As set out in the Company's prospectus dated 31 October 2023, the Company
recently extended its acquisition strategy to cover the wider food and beverage
industry with a focus on the beverage distribution and production sector in the
UK and the rest of Europe. The Directors of the Company believe that the
acquisition of Precious Link will provide an entry into the beverage industry
and allow it to access industry know-how and expertise. The Company believes
Precious Link operates in a complementary sector and the acquisition will pave
the way in expanding its activities into the wider food and beverage sector.
Completion of the acquisition remains subject to a number of conditions
("Completion"). Once such conditions are satisfied or waived by the Company (in
its sole discretion), the 12,500,000 new Ordinary Shares will be issued to PI
Distribution Investment Ltd., following which the Company intends to apply to
the Financial Conduct Authority ("FCA") for such new Ordinary Shares to be
admitted to the Official List of the FCA (by way of a standard listing under
Chapter 14 of the listing rules published by the FCA under section 73A of the
FSMA as amended from time to time) and to the London Stock Exchange Group plc
("London Stock Exchange") for such Ordinary Shares to be admitted to trading on
the London Stock Exchange's main market for listed securities.
The Company will make a further announcement confirming Completion and the issue
of the 12,500,000 new Ordinary Shares in due course.
Following Completion and the issue of the 12,500,0000 new Ordinary Shares the
total number of Ordinary Shares in issue with voting rights in the Company will
be 77,388,855 ("Total Voting Rights"). No shares are held in treasury. The Total
Voting Rights figure may then be used by shareholders as the denominator for the
calculation by which they may determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).
The Directors of the Company take responsibility for the contents of this
announcement.
For further information please contact the following:
Everest Global plc
Andy Sui, Chief Executive Officer +44 (0) 776 775 1787
Rob Scott, Non-Executive Director +27 (0)846006 001
Cairn Financial Advisers LLP
Jo Turner / Emily Staples +44 (0) 20 7213 0885 / +44 (0)20 7213 0897
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identi?ed by their use of
terms and phrases such as "believe", "could", "should" "envisage",
"estimate", "intend", "may", "plan", "potentially", "expect", "will"
or the negative of those, variations or comparable expressions, including
references to assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations and
assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount, nature
and sources of funding thereof), competitive advantages, business prospects and
opportunities. Such forward looking statements re?ect the Directors' current
beliefs and assumptions and are based on information currently available to the
Directors.
This information was brought to you by Cision |
LSE % Gainers Top Lists
EPIC Name %
CPP Cppgroup +49%
EVST Everest Global +39%
FA. Fireangel Safety... +24%
EVST has finished second on the top risers board today: up 1.05p to 3.75p., on volume of 393,559 shares traded.
The 'placing premium' of 119% is impressive indeed.
24/01/2023 07:00 UK Regulatory (RNS & others) Everest Global Plc Subscription for Shares LSE:EVST Everest Global Plc
"The Company is pleased to announce the subscription (the "Subscription")
for 12,726,000 new Ordinary Shares (the "Subscription Shares"), the Company
raised net proceeds totalling £699,930 at a Subscription Price of 5.5 pence per
share.
The Subscription Price represents a premium of 119 per cent to the closing
price of 2.51 pence on 20 January 2023, being the business day prior to
agreement of the Subscription. The Subscription is being conducted pursuant to
the existing authorities granted to the Directors of the Company at its annual
general meeting on 29 April 2022. The Subscription Shares represent
approximately 21.62 per cent. of the Company's issued share capital as enlarged
by the Subscription Shares.
The purpose of the Subscription is principally to fund general working capital
purposes.
The shareholders taking part in the subscription will each also receive 1
warrant for each Subscription Share. Each warrant conveys the right to
subscribe for a further new ordinary share at an exercise price of 5.5p up
until 31 December 2024.
In compliance with Prospectus Regulation Rule 1.2.4, which prohibits the
admission of more than 20% of the number of securities already admitted to
trading on the Main Market of the London Stock Exchange without a Prospectus,
the Company intends to publish a Prospectus in relation to the issue of the
Subscription Shares in order to enable those shares to be admitted to trading
on the Main Market of the London Stock Exchange in accordance with Listing Rule
14.3.4. ..." |
Current share price 9th. January 2023: 2.95p
46,162,855 shares in issue 46,162,855
Market capitalisation: £1.362M.
"Everest Global Plc’ (LSE:EVST)
A London Stock Exchange Main Board Listed Company"
10/11/2022 07:00 UK Regulatory (RNS & others) Anglo African Ag PLC Change of Name to Everest Global PLC LSE:EVST Everest Global Plc
"Anglo African Agriculture PLC
(To be re-named Everest Global PLC)
Following its announcement on 3 October 2022, the Company is pleased to
announce that's its change of name to Everest Global PLC has now been
registered at Companies House and will take effect on the Main Market of the
London Stock Exchange from 10 November 2022.
The Company's TIDM will change to "EVST". Its ISIN (GB00BKBS0353), SEDOL (
BKBS035) and LEI (213800VWEF19LQCNB917) numbers will remain unchanged.
The Company's website address is now hxxps://everestglobalplc.com.
The strategy of the Company will continue as before, namely, to develop a group
with a focus on food, agriculture and agricultural related products. ..." |
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